The Bucharest Stock Exchange's main index BET gained 3.5% on April 8, recovering more than half of the 6.1% loss accumulated during the previous three trading sessions after the US Administration announced the tariffs prompting panic among investors around the globe.
BET's year-to-date performance thus returned to positive readings, with an advance of 2% YTD. However, the dynamics in the last 12 months remain negative, namely -1.1% y/y.
The equity capitalisation of Bucharest Exchange increased by RON 12 billion, recovering nearly half of the RON 31 billion losses incurred during the previous three days.
"We are talking about an emotional impact, and the recovery is natural after those days of decline. Companies are ahead of the general meetings, the dividend is somewhat established and is about to be approved. These are good times to buy, but with caution, because I believe there will be more episodes of declines - yet we don't know how extensive," commented Lucian Isac, general manager of the brokerage house Estinvest, quoted by Ziarul Financiar.
All issuers in the BET index ended the day in the black, with the biggest increases being recorded by Electrica (BVB: EL, +6.9%), Transgaz (BVB: TGN, +5.7%), Antibiotice Iaşi (BVB: ATB, +5.6%), Sphera Franchise Group (BVB: SFG, +5.6%), One United Properties (BVB: ONE, +5%), Nuclearelectrica (BVB: SNN, +4.7%) and Banca Transilvania (BVB: TLV, +4.5%). Out of 20 issuers in BET, 15 increased by over 3%.
The recovery in the Romanian market parallels that seen in the global markets. The selling pressure on the world's major stock markets brought by the tariff war has eased, at least temporarily, giving way to a moderate rebound.
In Europe, the main indices in London, Paris, and Frankfurt recorded gains of close to 2%, with the Dow Jones Industrial Average following suit midway through New York trading hours.
iulian@romania-insider.com
(Photo source: BVB)
